Top Strategies for Marketing Signal Measurement
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This document summarizes the top 5 strategies for marketing signal measurement: 1. Measure against your objectives by setting clear goals and metrics for each campaign. 2. Choose signals that answer "what" happened and "why" by selecting primary metrics for tracking performance and secondary signals for analysis. 3. View performance holistically by measuring cross-channel interactions and cumulative impact. 4. Establish a standard measurement practice with consistent metrics across teams for accountability. 5. Measure marketing signals continuously through near real-time monitoring to discover opportunities and optimize strategies.
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Top Strategies for Marketing Signal Measurement
- 1. Top Strategies for Marketing Signal Measurement
- 2. 2 Speakers Alon Amit Scott Jones Co-Founder & VP Product VP Marketing
- 3. 3 Housekeeping • Please submit questions throughout the webinar; the last 10 mins will be reserved for Q&A • Share your thoughts on Twitter using the #MarketingSignals hashtag • We’ll send you the webinar recording and slide deck later this week
- 5. Targeting Control Measureability Low High LowHigh Evolution of Marketing Touchpoints Over Time
- 6. Targeting Control Measureability Low High LowHigh Evolution of Marketing Touchpoints Over Time
- 9. 9 Marketing Measurement and Analytics has become a Strategic Imperative
- 10. What brands need to do is change their mindset from focusing on campaigns, channels, devices and audience interactions to focusing on marketing signals.
- 11. To convert the massive streams of marketing signals into actionable marketing insights.
- 12. To empower their marketers to measure, analyze and act on marketing signals.
- 13. To empower their marketers to measure, analyze and act on marketing signals. Every day.
- 14. To optimize marketing results.
- 15. To optimize marketing results. Every day.
- 16. Which leads to producing legendary marketing outcomes.
- 19. Top 5 Strategies for Marketing Signal Measurement
- 20. MSM Strategy #1 Measure against your objectives.
- 21. 22 Multi-Channel Campaign Measurement With Well-Defined Objectives Strategy #1: Measure against your objectives
- 22. 23 Objective #1 Promote Product Awareness Objective #2 Drive Enrollments Strategy #1: Measure against your objectives Brand Example: Visa Checkout
- 23. 24 Strategy #1: Measure against your objectives Brand Example: Visa Checkout Objective #1 Promote Product Awareness Objective #2 Drive Enrollments Channels: TV, Display, Social Media, Internet Video, Organic Signals: • Impressions by Channel • Video Views • Clicks by Channel • Social Mentions • Click-Through Rate • CPM
- 24. 25 Strategy #1: Measure against your objectives Brand Example: Visa Checkout Objective #1 Promote Product Awareness Objective #2 Drive Enrollments Channels: Display, Social Media, Paid Search, Organic Signals: • Enrollments by Channel • Payment Volume by Channel • Transactions • Average Ticket Size
- 25. 26 Brand Example: Visa Checkout
- 26. 27 • All campaigns measured using similar metrics regardless of objective • Arbitrary targets unrelated to campaign goals • Little consistency across marketing channels on success criteria • Campaign performance assessed according to agreed-upon objectives • Targets set with overall goals in mind • Consistent measurement and cumulative targets across marketing channels Before MSM With MSM Strategy Strategy #1: Measure against your objectives Brand Example: Visa Checkout
- 27. MSM Strategy #2 Choose signals that answer “what” and “why”.
- 28. 29 Omni-Channel Dashboards With Integrated Analysis Path Strategy #2: Choose signals that answer “what” and “why”
- 29. 30 Web Reservations Conversion Signal Strategy #2: Choose signals that answer “what” and “why” Brand Example: Omni Hotels
- 30. 31 Web Reservations Web Visits Web Visitors Engagement Signals Bounce Rate Avg Time on Site Conversion Signal Strategy #2: Choose signals that answer “what” and “why” Brand Example: Omni Hotels
- 31. 32 Web Reservations Web Visits Web Visitors Engagement Signals Bounce Rate Avg Time on Site Conversion Signal Organic Visits Paid Visits Referrals Strategy #2: Choose signals that answer “what” and “why” Brand Example: Omni Hotels
- 32. 33 Web Visits Web Visitors Engagement Signals Bounce Rate Avg Time on Site Organic Visits Paid Visits Referrals Paid Search Visits Display Visits Paid Social Visits Affiliate Visits Strategy #2: Choose signals that answer “what” and “why” Brand Example: Omni Hotels
- 33. 34 Brand Example: Omni Hotels
- 34. 35 • No distinction between primary (scorekeeping) vs. secondary (analysis) signals • No defined analysis path • Difficulty identifying root causes of performance changes • Clearly defined primary and secondary signals • Integrated analysis path for commonly encountered questions • Root causes of performance changes readily identified Before MSM With MSM Strategy Strategy #2: Choose signals that answer “what” and “why” Brand Example: Omni Hotels
- 35. MSM Strategy #3 View performance holistically.
- 36. 37 Brand Health Tracking With Cross-Channel Interactions Strategy #3: View performance holistically
- 37. 38 Social Website Email Synergistic Interactions Strategy #3: View performance holistically Brand Example: Pernod Ricard
- 38. 39 Social Website Email Engage RetainKey Signals Opens Open Rate Social Shares ・・・ Key Signals Est. Impressions Est. Reach Engagement Engagement Rate ・・・ Strategy #3: View performance holistically Brand Example: Pernod Ricard
- 39. 40 Engage Retain Convert Key Signals Visits from Email Time on Site Buy It Nows ・・・ Strategy #3: View performance holistically Brand Example: Pernod Ricard Social Website Email Key Signals Opens Clickthroughs CTR ・・・
- 40. 41 Reach Engage Convert Strategy #3: View performance holistically Brand Example: Pernod Ricard Social Website Email Key Signals Visits from Social Bounce Rate Buy It Nows ・・・ Key Signals Est. Impressions Est. Reach Clicks CTR ・・・
- 41. 42 Brand Example: Pernod Ricard
- 42. 43 • Marketing channels measured in silos • Little to no understanding of cross-channel effects or cumulative impact • No success criteria for multi-channel strategy • Total marketing impact measured holistically • Real-time assessment of cross-channel effects and cumulative impact • Assessment and optimization of multi-channel strategy Before MSM With MSM Strategy Strategy #3: View performance holistically Brand Example: Pernod Ricard
- 43. MSM Strategy #4 Establish a standard measurement practice.
- 44. 45 Centralized Marketing Measurement With Cross-Team Accountability Global CPG Company One of Largest Brand Advertisers Strategy #4: Establish a standard measurement practice
- 45. 46 Central Marketing Analytics Team Brand Managers Campaign Managers Regional Teams Agencies How to insure consistent measurement and accountability? Strategy #4: Establish a standard measurement practice Brand Example: Global CPG Company
- 46. 47 Central Marketing Analytics Team Central Set of Dashboards w/ Key Signals Display Impressions CPM Paid SearchShare of Search Website Bounce Rate Visits Social Reach Engagement Rate ・・・ ・・・ ・・・ ・・・ Clickthrough Rate Strategy #4: Establish a standard measurement practice Brand Example: Global CPG Company
- 47. 48 Impression Share – Brand Impression Share – Product Clickthrough Rate ・・・ Central Marketing Analytics Team Central Dashboards Paid Search Brand Managers Campaign Managers Regional Teams Agencies Brand and Campaign Dashboards Local and Agency Dashboards + Bounce Rate + Time on Site + Click Share ・・・ + Buy It Nows + Conversion Rate + Cost per Click ・・・ Strategy #4: Establish a standard measurement practice Brand Example: Global CPG Company
- 48. 49 Brand Example: Global FMCG Company
- 49. 50 • Brand and agencies using separate sets of signals for each channel • Inconsistent accountability across teams • No way to measure cross-brand / cross-team performance • Standard set of core signals measured across brands and agencies • Consistent accountability across organization • Possible to compare performance across brands and teams Before MSM With MSM Strategy Strategy #4: Establish a standard measurement practice Brand Example: Global CPG Company
- 50. MSM Strategy #5 Measure marketing signals continuously.
- 51. 52 Digital Command Center With Near Real-Time Monitoring Strategy #5: Measure marketing signals continuously
- 52. 53 • Assess strategic direction • Track progress against goals • Find tactical opportunities • Monitor content quality Content Performance Market Performance Strategy #5: Measure marketing signals continuously Brand Example: Intel
- 53. 54 • Which content is generating the highest engagement? • Is there opportunity to distribute content across additional channels? • Is there opportunity to promote content through paid channels for additional reach? Content Performance • Which markets are reaching the most people? • Is my content strategy resonating with the audience in each market? • Is my audience base for each market growing according to target? Market Performance Strategy #5: Measure marketing signals continuously Brand Example: Intel
- 54. 55 Near Real Time Monitoring Tactical Opportunity Discovery & Capitalization Every Day Assessment Continuous Strategy Adjustment & Optimization Content Performance Key Signals Post Engagement Time on Page Content Shares Engagement Rate ・・・ Key Signals Market Reach Visits Total Consumption Clickthrough Rate ・・・ Strategy #5: Measure marketing signals continuously Brand Example: Intel Market Performance
- 56. 57 • Static content strategy and cross-channel resource allocation • Opportunities discovered to late to be actioned on • Monthly and quarterly performance assessment to plans/targets • Flexible content strategy with dynamic allocation of budget and resources • Same-day detection and action on opportunities • Continuous strategy adjustments to optimize performance beyond plans Before MSM With MSM Strategy Strategy #5: Measure marketing signals continuously Brand Example: Intel
- 57. 1. Measure against your objectives. 2. Choose signals that answer “what” and “why”. 3. View performance holistically. 4. Establish a standard measurement practice. Summary of Strategies
- 58. How to execute my own measurement strategy?
- 59. 60 Periodic Table of Marketing Signals
- 60. 61 The Anatomy of a Marketing Signal
- 61. 62 The Anatomy of a Marketing Signal Objective • Awareness • Engagement • Conversion • Loyalty • Advocacy
- 62. 63 The Anatomy of a Marketing Signal Channel • Display • Search • Social • TV • etc.
- 63. 64 The Anatomy of a Marketing Signal Signal Type • Volume • Quality • Efficiency • Share
- 64. 65 Periodic Table of Marketing Signals
- 65. Q & A
- 66. • Interested in taking your marketing measurement to the next level? • Want a printed poster of the Periodic Table of Marketing Signals? Let us know: signals@origamilogic.com Thank you for joining our webinar!
Hinweis der Redaktion
- Intro (3 mins) 2. The State of Digital Marketing (7 mins) a. How did your campaigns perform today? i. Shortened POV b. The state of digital marketing i. Fragmentation and complexity ii. Proliferation of marketing signals c. Measurement is becoming a strategic imperative i. Relevant Gartner/Forrester statistics 3. Top Strategies for Marketing Signals Measurement (20 mins) a. Measure according to your objective i. Your campaign objective should determine what signals to measure ii. Example: Visa Checkout b. Focus on the signals that matter i. Do not report for the sake of reporting; focus on measuring impact ii. Choose just two or three primary signals per channel per campaign iii. Example: TBD c. Think both "what" and "why" i. Your primary KPIs define your scorecard, but do not help for analysis ii. Establish a set of secondary signals that help answer "why" iii. Example: TBD d. View your measurement holistically i. All marketing channels and campaigns affect one another ii. Try to gain broader visibility across all marketing channels and campaigns, both upstream and downstream iii. Example: Pernod Ricard e. Establish a standard measurement practice i. Make sure that all your teams are measuring performance based on the same set of criteria ii. Example: Global FMCG company (P&G) 4. Marketing Signals Framework (5 mins) a. Organizational Logic: Objective, Channel, Signal Type b. Periodic Table: how to read and interpret i. Example: product launch in growth market c. Email us to have a free poster sent to you 5. Q&A (5 mins)
- Introduce speakers.
- We all know that digital marketing is taking off. Surveys by Forrester and Gartner indicate that marketers are planning to increase spend across almost all marketing channels.
- I’d like everyone to ask yourself this question: How did my campaigns perform today? It’s a deceptively simple, powerful question. That very few in marketing can answer. Because marketing has become a complex, rapidly changing, noisy, daily battle.
- With better targeting, and more fine-grained controls, marketing was supposed to be more measurable than ever before.
- With better targeting, and more fine-grained controls, marketing was supposed to be more measurable than ever before. But the explosion of new channels, platforms, apps, devices, and data, coupled with the velocity of change… …has made cutting through the noise almost impossible.
- There are just too many different platforms and systems…
- …each with there own set of signals…We’re in a situation where the number and types of signals generated by marketing activity is exploding, and moonlighting to solve that issue, or doing it manually, is a fools game.
- At the same time, marketing measurement and analytics is more strategic now than ever before. According to recent research, the most successful, progressive marketers invest nearly 3 times as much on marketing measurement and analytics as the average, and 4.5 times as much as late adopters, and across the board, CMOs are committed to nearly doubling their investment in marketing measurement and analytics over the next 3 years. Ignoring signals in not an option, and marketers know it.
- Visa converts massive streams of marketing signals into actionable marketing insights. Empowering their marketers to measure, analyze and act on marketing signals. Every day. Optimizing marketing results. Every day.
- Visa converts massive streams of marketing signals into actionable marketing insights. Empowering their marketers to measure, analyze and act on marketing signals. Every day. Optimizing marketing results. Every day.
- Visa converts massive streams of marketing signals into actionable marketing insights. Empowering their marketers to measure, analyze and act on marketing signals. Every day. Optimizing marketing results. Every day.
- Visa converts massive streams of marketing signals into actionable marketing insights. Empowering their marketers to measure, analyze and act on marketing signals. Every day. Optimizing marketing results. Every day.
- Visa converts massive streams of marketing signals into actionable marketing insights. Empowering their marketers to measure, analyze and act on marketing signals. Every day. Optimizing marketing results. Every day.
- Producing legendary marketing outcomes.
- Producing legendary marketing outcomes.
- And it lets answer the question: What happened today.
- What we’ve done is to create a framework, the Marketing Signals Framework, to make it easier for you to make sense of this madness, and start aligning your measurement towards your objectives. We will go into more detail on this later, but let’s first look at some of the strategies the world’s top brands are using when measuring their marketing results.
- Strategy #1: You need to measure against your objective, first and foremost. You should not be using a cookie-cutter measurement approach for all the campaigns that you run.
- Visa is a great example of this strategy, where they executed, and are executing as we speak, a campaign – the Visa Checkout campaign – to very well-defined objectives. You may have heard of it – it’s Visa’s online payments service similar to Paypal. They chose what signals to focus on based on the objectives, so that there was never any question about how successful the campaign is.
- There are two objectives for this campaign. To promote awareness around the new Visa Checkout product, and 2. To drive enrollments for the product. So as you can see, this is a combined awareness and direct response campaign – Visa’s largest digital activation ever.
- Visa is executing this campaign across multiple channels – online as well as offline, across TV, display, social media, video, and more. What Visa did was in order to measure the success of the campaign against the objectives, they defined a clear set of signals that represent progress against each set of objective. For example, for Display they measure impressions and reach. For video they measured views. For social, they tracked mentions, and so on.
- As for the second objective to drive enrollments, the signals were much more conversion focused, like enrollments by channel, payment volume, average ticket size, and so on. By identifying and measuring signals relevant to each objective, Visa was able to track progress against clearly defined goals.
- Let me show you the measurement strategy in action. Here, you are looking at an anonymized version of a dashboard the Visa put together to track this campaign.
- So with marketing signal measurement, Visa’s managed to step up their measurement. They defined clear-cut targets for their marketing efforts based on strategic objectives, and tracked progress against them. By framing their entire marketing measurement around their objectives, they were able to achieve consistency across the different channels they activated against, and even define cumulative goals across them.
- Now let’s move on to the second strategy. There are two key types of signals you want to pay attention to when measuring your marketing efforts. First, you need signals that keep score and represent performance to target. But you also need a set of signals that answer “why” – why your campaign is performing better or worse than plan, why your results are trending in a certain direction, why performance changed from last week to this week.
- Omni Hotels is a great example of this strategy. Using the signals framework, they were able to create dashboards with integrated analytics – dashboards that answer not just “what”, but also “why”.
- For example, for their web performance dashboards, they started out with their key conversion signal, web reservations.
- To this, they added upper funnel engagement signals such as web visits, average time on site, and so on, to identify what is driving fluctuations in number of reservations.
- The engagement signals were further broken by type of source – paid, owned, and earned.
- …and also by media, such as display, paid search, social etc. This analysis path enabled Omni to quickly and easily discover which channels are driving fluctuations in conversions.
- This is a sample diagnostic dashboard that Omni created within Origami to conduct these types of root cause analyses.
- This clear bucketing of signals enabled Omni to understand which signals are useful for what purpose. As a result of tracking not only primary “scorekeeping” signals, but also secondary “analysis” signals, they were able to greatly speed up their root cause analysis and optimize their campaigns faster and better.
- Now for the third strategy. When you are measuring your marketing performance, it is critical that you think view the larger picture. Marketing activity across channels are all interconnected and influence each other. In order to truly understand which signals are driving performance, you need to break down silos, and expand your measurement across channels.
- Take the example of Pernod Ricard. By viewing signals not in siloes, but also measuring cross-channel interactions, they were able to get a better understanding of the impact of each channel towards overall brand health.
- Pernod was looking to understand not just the performance of each individual channel, but also the synergistic interactions between them.
- Social calls to action and social sharing buttons in emails will generate social signals, promoting engagement and retention.
- On the other hand, email click-throughs to brand sites promote engagement and retention, but also Buy It Now conversions.
- Social activity, either via click-throughs or increased awareness via new audience reach, also generate website traffic
- Here is a sample Pernod dashboard to track and analyze cross-channel interactions. By choosing the right signals, Pernod was able to measure results not only for independent channels, but also cross-channel impact.
- By defining their measurement strategy, Pernod was able to move from siloed, channel-specific views, to a holistic cross-channel view. As a result, Pernod was able to better understand interactions between their activating channels, and optimize their multi-channel campaigns better.
- Fourth strategy. In order to prevent your teams from each defining their own separate way of measuring campaigns, you need to establish a baseline measurement practice. This enables you to accurately compare performance across campaigns, across geographies, so that you know what is working and what is not.
- A global FMCG company that we are working with, one of the largest advertisers in the world with hundreds of global brands, set out to do exactly this. What they were looking for was a system to insure cross-team and cross-campaign accountability.
- They already had a central marketing analytics team, a collection of subject matter experts with a deep understanding of marketing measurement. However, reporting was being independently done by each brand manager or regional teams and agencies, with little to no consistency. This made it difficult to assess performance holistically.
- The company decided to consolidate their measurement by creating a central set of dashboards with key signals in each channel, according to best practices.
- In order to balance best practice with flexibility, they also allowed additional signals to be measured depending on the campaign objective, regional focus, and so on. But the central set of signals will always remain in place, which insured that there was a set of signals that remained consistent across all brands, campaigns, and regions.
- This is the centralized measurement with the core set of signals displayed in a dashboard – one that applies to a single brand or region, or across all brands and regions.
- By establish a standard system of measurement, the FMCG company was able to insure consistent accountability across all of their brands and teams. They are now able to assess performance across all brands, regions, and campaigns to find areas of opportunity – something they had difficulty doing before.
- The fifth and final strategy is about how you should measure your signals. Just choosing the right signals is not enough – you need to insure that they are timely and relevant, that you can measure them fast enough to action on opportunities discovered.
- Intel was looking to set up a digital command center across multiple marketing channels, measuring results in close to real time as possible. But since “everything in real time” is neither possible nor practical, they needed to understand what signals they should be harvesting, when.
- They broke down they marketing performance into two large buckets – performance of individual pieces of content, and performance at the aggregate property level. At the content level, they were looking to find tactical opportunities to distribute or promote content, while the property-level performance will be used to assess strategic direction.
- To this, there were some key questions they defined for each bucket, which they used to determine how real-time they needed the signals to be.
- As a result of their exercise, Intel determined that having near real-time assessment of content performance was critical, since the window of opportunity to distribute or promote content tends to be very short in channels such as social. On the other hand, property-level performance should be measured daily, in order to assess overall performance and track progress against goals.
- Here is Intel’s content performance dashboard in action, where they were continuously monitoring the performance of their latest content.
- By measuring signals continuously, at the right frequency to meet their needs, Intel was able to move from a static, set-and-forget content plan to more flexible and dynamic content strategy, where opportunities are found and actioned on throughout the day, and course corrections are done not at the end of the month, but on a daily basis.
- So let’s recap. The five strategies we talked about today.
- Now for the key question that you are probably wondering about. How do I define my own measurement strategy for my campaigns?
- This is where Origami’s marketing signals framework comes in. To make it easier for you to formulate your own measurement strategy, we’ve compiled a list of all commonly used signals across all marketing channels, online and offline
- Each signal is classified according to three types of categories so that you can easily align your measurement to your objectives.
- The first category is objective. Perhaps you are running an awareness campaign for your product or service, or maybe you have a direct response campaign for driving conversions. Depending on what the objective of your campaign is, the signals you want to measure will change, as you saw in Visa Checkout’s example.
- The second category should be familiar to everyone – marketing channel. Of course, you won’t activate across all possible marketing channels for every single campaign. Understanding which signals matter for each channel is key to a successful measurement strategy.
- The third and final category is the signal type – volume, quality, efficiency, and share. Volume measures the amount of impact of your campaigns, whether it’s total impressions, or number of conversions. Quality indicates how effective your campaigns are at moving your audience down the funnel, such as click-through rate. Efficiency measures your performance per dollar – signals such as cost per click or ROI. Share shows how your performance compares to competition or market potential: examples are market share, share of voice, and so on. By using these four types of signals, it’s possible to effectively measure any campaign, regardless of channel or objective.
- Using the Periodic Table of Marketing Signals: An Example Background: Your company is launching its product in a new market, with a cross-channel campaign activating across TV, Display, and Social channels. Since this is an initial entrance focused on growth, you do not expect to show ROI immediately. The primary objective is to garner as much awareness as possible, with media efficiency also being an important factor — as you have limited budget. Additionally, you are interested in measuring website engagement volume to assess the increase in brand awareness. Finding Awareness Signals: Using the periodic table (enclosed), you browse through the Awareness block, colored in red, searching for Volume and Efficiency signals in the relevant channels: TV, DPL, and SOC. Using the index (pgs 5 & 6) makes it easy for you to find the signal blocks of interest. You end up with the following set of signals to measure: TV: Gross Impressions, Net Reach, GRP, TRP, Cost per Point, CPM Display: Impressions, Reach, Display Time, CPM Social: Impressions, Unique Impressions, CPM Finding Engagement Signals: You then move to the Engagement block, colored in orange, and locate the relevant WEB volume signals: Web: Visits, Visitors, Page Views, Time on Site, Actions The periodic table represents just one portion of the entire marketing signals framework. Layers above include compound signals such as cross-channel impressions, or total social engagement across all engagement types. These compound signals help to simplify measurement by reducing the total number of signals and can be customized based on campaign and context.
- Using the Periodic Table of Marketing Signals: An Example Background: Your company is launching its product in a new market, with a cross-channel campaign activating across TV, Display, and Social channels. Since this is an initial entrance focused on growth, you do not expect to show ROI immediately. The primary objective is to garner as much awareness as possible, with media efficiency also being an important factor — as you have limited budget. Additionally, you are interested in measuring website engagement volume to assess the increase in brand awareness. Finding Awareness Signals: Using the periodic table (enclosed), you browse through the Awareness block, colored in red, searching for Volume and Efficiency signals in the relevant channels: TV, DPL, and SOC. Using the index (pgs 5 & 6) makes it easy for you to find the signal blocks of interest. You end up with the following set of signals to measure: TV: Gross Impressions, Net Reach, GRP, TRP, Cost per Point, CPM Display: Impressions, Reach, Display Time, CPM Social: Impressions, Unique Impressions, CPM Finding Engagement Signals: You then move to the Engagement block, colored in orange, and locate the relevant WEB volume signals: Web: Visits, Visitors, Page Views, Time on Site, Actions The periodic table represents just one portion of the entire marketing signals framework. Layers above include compound signals such as cross-channel impressions, or total social engagement across all engagement types. These compound signals help to simplify measurement by reducing the total number of signals and can be customized based on campaign and context.
- Now let’s open up to Q&A.
- Thanks to everyone for joining the webinar. As a special offer for those of you who attended the webinar, you can have a free printed poster of the periodic table mailed to you. Just email us at signals@origamilogic.com, the poster will be on its way. Also, if you’re interested in seeing how we can help you take your marketing measurement to the next level, please contact us at the same address